Cash flows and the Group’s credit line needs are managed in order to guarantee

  • an effective and efficient management of the financial resources
  • the optimisation of debt’s maturity standpoint

Liquidity risk and capitals management

The liquidity risk arises from the possibility that available financial resources are not sufficient to cover, in due times and procedures, future payments arising from financial and/or commercial obligations. To deal with these risks, cash flows and the Group’s credit line needs are monitored or managed centrally under the control of the Group’s Treasury in order to guarantee an effective and efficient management of the financial resources as well as optimise the debt’s maturity standpoint.

In addition, the Parent Company finances the temporary cash requirements of Group companies by providing direct short-term loans regulated in market conditions or guarantees.

As of 30 September 2019, the Group had a liquidity of €/000 212,472, €/000 236,275 of undrawn irrevocable credit lines and €/000 151,750 of revocable credit lines, as detailed below:

In thousands of Euros 

As of 30 September 2019

As of 31 December 2018

Variable rate with maturity within one year - irrevocable until maturity

 

 

Variable rate with maturity beyond one year - irrevocable until maturity

236.275

165,000

Variable rate with maturity within one year - cash revocable

132.750

126,225

Variable rate with maturity within one year - with revocation for self-liquidating typologies

19,000

19,000

Total undrawn credit lines

388.025

338,878

 

Share on...